Tight timeframe for multiple loan process

[Silvia Camponelli]

Hi!! Silvia here...I am new to the forum! Thank you in advance for your time and consideration and helping with my question. I’ve done forum searches, but still have questions.

I’ve done only two all-cash deals so far for small multi-family properties and I’m ready to dip into borrowing. I have good steady income from my dayjob for last 5 yrs, FICO 760+ and significant cash reserves. I am pre-approved for 4mn USD for a single loan...but have questions. My goal is to invest in 5-8 properties within the next six months.

My questions:

1. I would like to invest in 5-8 interesting properties here in New York. What is the smartest way of approaching this many mortgages?
2. I’ve read about portfolio loans for multiple properties, but have found banks reluctant to do so for me due to lack of experience (I only have two income-producing property is now).
3. What is best way to secure 5-8 individual mortgages at best and lowest interest rates and terms?
4. Seems logical to apply for the biggest loan first, correct? This way hopefully I can secure the lowest interest rate for the largest loan
5. What is the best strategy to apply for multiple loans with minimizing impact on credit score. Would you apply for all loans in a tight cluster (as I’ve read this on the Forums).

Thanks so much for helping out someone new to this. Let me know if I can help further.

Silvia